Financial Markets
ASIC extends relief of three legislative instruments
On 28 September 2026, ASIC announced that it has remade three legislative instruments for a further five years. The instruments, which were due to sunset in October 2026, are:
- ASIC Corporations (Dematerialised Securities: Austraclear) Instrument 2016/841 (remade to ASIC Corporations (Dematerialised Securities: Austraclear) Instrument 2026/754);
- ASIC Corporations (Disclosure of Directors’ Interests) Instrument 2016/881 (remade to ASIC Corporations (Disclosure of Directors’ Interests) Instrument 2026/758), which now applies to public companies listed on any declared financial market with equivalent disclosure requirements; and
- ASIC Corporations (Records: Dealings on Foreign Markets) Instrument 2016/889 (remade to ASIC Corporations (Records: Dealings on Foreign Markets) Instrument 2026/755).
The change follows consultation CS 57 Proposed remake of Corporations Instruments 2016/841, 2016/881, and 2016/889. ASIC stated that the relief itself has not changed materially.
See: Media Release, CS 57, Instrument 2026/754, Instrument 2026/755, Instrument 2026/758
ASIC increases low volume financial market transaction threshold
On 30 September 2026, ASIC announced that it has remade ASIC Corporations (Low Volume Financial Markets) Instrument 2016/888 to ASIC Corporations (Low Volume Financial Markets) Instrument 2026/756 (Instrument 2026/756). This instrument exempts low-volume financial markets from the requirement to hold an Australian market licence.
Following consultation CS 60 Proposed remake of low-volume financial markets instrument, ASIC has raised the transaction value threshold for the definition of a low-volume financial market from $1.5 million to $2.5 million. ASIC noted that the increase reflects factors including inflation, as the threshold had not changed since 2016.
Under Instrument 2026/756, a financial market is now considered a low-volume financial market if, in the relevant 12-month period:
- no more than 100 completed transactions are entered into; and
- the total value of those transactions does not exceed $2.5 million.
See: Media Release, Instrument 2026/756, CS 60
Financial Advice
ASIC remakes dollar disclosure and exempt documents relief
On 25 September 2026, ASIC announced that it has issued two replacement legislative instruments covering dollar disclosure requirements and general advice provided in exempt documents. The replacement instruments, which ASIC made following its consultation in CS 51 Proposed remake of relief from dollar disclosure reporting and AFS licensing requirements for general advice in certain exempt documents, are:
- ASIC Corporations (Disclosure in Dollars) Instrument 2026/719 (Instrument 2026/719), which replaces ASIC Corporations (Disclosure in Dollars) Instrument 2016/767 and provides exemptions from requirements under Parts 7.7 and 7.9 of the Corporations Act to disclose certain information in Australian dollars in a PDS, Statement of Advice or periodic statement; and
- ASIC Corporations (Financial Product Advice – Exempt Documents) Instrument 2026/718, which replaces ASIC Corporations (Financial Product Advice – Exempt Documents) Instrument 2016/356 and provides licensing relief to entities that give general advice in certain exempt documents, including explanatory statements for foreign schemes of arrangement and offer documents for control transactions regulated in a specified foreign market.
See: Media Release, Instrument 2026/719, Instrument 2026/718, CS 51
ASIC updates relief for managed discretionary account service providers
On 30 September 2026, ASIC announced that it has issued ASIC Corporations (Managed Discretionary Account Services) Instrument 2026/720 (Instrument 2026/720) to continue regulatory relief for managed discretionary account (MDA) providers and external MDA custodians. Instrument 2026/720 replaces ASIC Corporations (Managed Discretionary Account Services) Instrument 2016/968, which was due to expire on 1 October 2026.
ASIC stated that Instrument 2026/720 does not substantively change the terms of the relief for MDAs, although minor adjustments have been made to reflect related regulatory developments, including:
- moving some FSG content requirements into the investment program;
- amending the timeframe for notifying ASIC of non-compliance from 10 days to 30 days, and requiring the material details (rather than full details) of the non-compliance; and
- phasing out quarterly reporting with electronic access to account information.
This follows ASIC’s consultation in CS 47 Proposed remake of relief for managed discretionary account services in April 2026. ASIC has also updated Regulatory Guide 179 Managed discretionary accounts (RG 179) to reflect the new instrument.
See: Media Release, Instrument 2026/720, CS 47, RG 179
Funds management
ASIC remakes six legislative instruments about managed investment schemes
On 28 September 2026, ASIC announced that it has remade six legislative instruments that provide relief in relation to managed investment schemes, which were expiring on 1 October 2026. The new instruments, which were updated in response to consultation CS 53 Proposed remake of six legislative instruments relating to managed investment schemes, are:
- ASIC Corporations (Serviced Apartment and Property Rental Schemes) Instrument 2026/192, which consolidates the prior instruments relating to serviced strata and property rental schemes and provides certain managed investment, licensing, hawking and disclosure relief;
- ASIC Corporations (Charitable Investment Fundraising) Instrument 2026/730, which grants conditional relief to charitable investment fundraisers from the managed investment, disclosure, hawking and debenture provisions of the Corporations Act;
- ASIC Corporations (School Enrolment Deposits) Instrument 2026/709, which provides relief to schools that require enrolment deposits from the managed investment, licensing, disclosure, hawking and debenture provisions of the Corporations Act;
- ASIC Corporations (Horse Schemes) Instrument 2026/723, which gives eligible small horse racing syndicates relief from having to register as managed investment schemes and provides private horse breeding scheme operators with relief from the managed investment, licensing, disclosure and hawking provisions; and
- ASIC Corporations (Attribution Managed Investment Trusts) Instrument 2026/726, which provides relief to responsible entities to address issues that may arise in implementing the tax system for managed investment trusts.
ASIC stated that it will update related guidance in Regulatory Guide 87 Charitable schemes and school enrolment deposits, Regulatory Guide 91 Horse breeding schemes and horse racing syndicates and Regulatory Guide 140 Strata schemes and management rights schemes to reflect these updates in the coming months.
See: Media Release, CS 53, Instrument 2026/192, Instrument 2026/730, Instrument 2026/709, Instrument 2026/723, Instrument 2026/726
Licensing
ASIC remakes relief for client money held in cash common funds
On 1 October 2026, ASIC announced that it has remade ASIC Corporations (Client money - Cash common funds) Instrument 2026/727 (Instrument 2026/727), which allows AFS licensees to place client money in cash common funds. Under Instrument 2026/727, client money in cash common funds can only be invested in fixed-interest securities and negotiable instruments.
Instrument 2026/727 replaces ASIC Corporations (Client money - Cash common funds) Instrument 2016/671 which expired on 1 October 2026.
ASIC consulted on the remake through CS 52 ASIC proposes to remake legislative instrument in relation to client money held in cash common funds.
See: Media Release, Instrument 2026/727, CS 52
Superannuation
APRA releases proposals to strengthen trustee investment governance
On 30 September 2026, APRA announced that it is seeking feedback on a package of proposals in relation to investment governance and retirement savings. The proposals include three new safeguards requiring trustees to:
- set and enforce member-level investment limits for higher-risk investments;
- strengthen the management of investment-related conflicts; and
- ensure their investment oversight capabilities and resources are commensurate with the size and complexity of their investment menus.
APRA is also proposing five changes to existing expectations for investment onboarding, monitoring, remediation, valuations and accountability, and is considering whether certain remuneration requirements that currently apply to large trustees should apply to complex trustees of all sizes.
Feedback on the proposal is due by 3 February 2027.
See: Media Release, Consultation page
AML/CTF
AUSTRAC releases suite of compliance guidance articles
On 30 September 2026, AUSTRAC released a suite of articles providing updated guidance on compliance, including:
- its top 5 tips for good compliance;
- warnings about scammers impersonating AUSTRAC staff;
- submitting accurate and complete reports to AUSTRAC;
- new resources to support entities in their AML/CTF journey;
- conducting effective customer due diligence;
- the features of a high-quality SMR;
- the steps newly enrolled reporting entities should take after enrolling; and
- applying a risk-based approach to customers assessed as higher risk.
See: Top 5 tips, Impersonation and scams, Reporting, New resources, Customer due diligence, High-quality SMRs, After enrolment, Higher-risk customers
Fintech
AFCA access extended to more digital asset users
On 1 October 2026, AFCA announced that more consumers who use digital assets such as cryptocurrency, wrapped tokens, stablecoins, tokenised securities and digital asset wallets can now access AFCA’s service.
This follows ASIC’s clarification in Information Sheet 225 (INFO 225) about when a digital asset is considered a financial product, with businesses that provide services involving financial products generally needing to hold an AFSL and be a member of AFCA.
These consumers can now bring disputes to AFCA if they are unable to resolve them directly with their provider, if the firm is an AFCA member.
See: Media Release, INFO 225
Other
ASIC remakes wholly-owned companies relief instrument
On 29 September 2026, ASIC announced that it has remade the relief for eligible wholly-owned companies, which can now be found in ASIC Corporations (Wholly-owned Companies) Instrument 2026/533 (Instrument 2026/533).
Instrument 2026/533 continues existing financial reporting relief under Chapter 2M of the Corporations Act where the relevant conditions are met, including the company being party to a deed of cross guarantee with its holding company and other group entities, and the holding company lodging consolidated financial statements for the group.
ASIC consulted on the remake through CS 61 Proposed remake of ASIC Corporations (Wholly-owned Companies) Instrument 2016/785.
See: Media Release, Instrument 2026/533, CS 61
Authors: Jonathan Gordon, Partner; Corey McHattan, Partner; Samantha Carroll, Partner; Hong-Viet Nguyen, Partner and Charlotte Ekins, Graduate.
